Ship owners get $1.8b loan to acquire 20 new carriers

INDIGENOUS ship owners in Nigeria have secured a $1.8billion (N270billion) facility from Nationwide Finance  Miami, Florida to  purchase  20  new crude carriers.
Accessing the funds, will however depend on the ability of the local ship operators to sway the Federal Government to change its current trade practice  of Free On Board (FOB) to Cost, Insurance and Freight (CIF).
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Source:Vanguard